James16 Patterns Indicator for MT4 Download – Free – [TradingFinder]

The James16 Patterns Indicator is designed to display Price Action style patterns based on the "James16" strategy.

In addition, this tool identifies buy and sell signals based on bullish and bearish patterns, providing faster recognition of market entry and exit points.

Once a pattern is detected, the indicator marks the location and name of the pattern using a tag, and also shows buy and sell signals with blue and red markers.

James16 Pattern Indicator Specifications Table

The specifications of the James16 Patterns indicator are as follows:

James16 Patterns Indicator at a Glance

Patterns identified by the James16 Patterns Indicator come in both bullish and bearish forms, as follows:

Bullish Patterns

• DBLHC: Possible signal of upward market movement
• TMLTB: Support confirmation and potential start of price growth
• Bullish Pin Bar: Indicates market reversal to the upside
• BUOVB: Strong sign of trend continuation upwards

Bearish Patterns

• DBHLC: Suggests possible price decline
• TMHTB: Resistance confirmation and potential bearish reversal
• Bearish Pin Bar: Warning of possible drop after correction or strong rise
• BEOVB: Strong bearish signal for further price decline
• IB4: Indicates market compression

Uptrend and Buy Signal

On the 1-hour EUR/USD chart, several bullish "James16" patterns are identified, confirming the continuation of the upward market movement.

Patterns such as "Pin Bar" and "BUOVB" signal price reversal from the bottom and the start of a new trend.

This combination of patterns provides a strong signal of an ongoing bullish trend.

Downtrend and Sell Signal

On the 15-minute GBP/USD chart, the presence of patterns such as "Pin Bar" at the tops suggests the end of an uptrend and the start of a price decline.

Traders can consider the overall trend direction and use these patterns as sell trading signals.

James16 Patterns Indicator Settings

Adjustable options in the James16 Pattern Indicator are as follows:

Bearish Patterns

• showDBHLC: Double Bar High Lower Close pattern
• showBEOVB: Bearish Outside Vertical Bar pattern
• showTMLTB: Two Matching Low Bars pattern

Bullish Patterns

• showDBLHC: Double Bar Low Higher Close pattern
• showBUOVB: Bullish Outside Vertical Bar pattern
• showTMHTB: Two Matching High Bars pattern

Non Directional or Both Dir

• showIB4: Inside Bar 4 pattern
• showKEYRV: Key reversal patterns

Conclusion

The James16 Pattern Indicator is a practical tool in technical analysis that automatically identifies important "James16" patterns on the chart.

This indicator, using tags and signal markers, detects both bullish and bearish patterns and displays the probable market trend.

Moreover, customizable settings for displaying each pattern give this tool high flexibility and allow traders to focus on their preferred patterns.